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- U.S. weekly mortgage applications decline 1.9 percent
U.S. weekly mortgage applications decline 1.9 percent
The
Mortgage Bankers Association (MBA) reported on Wednesday the mortgage
application volume in the U.S. declined 1.9 percent in the week ended September 3, following a 2.4 percent decrease in the previous week.
According
to the report, refinance applications dropped 2.8 percent, while applications
to purchase a home edged down 0.2 percent.
Meanwhile, the average fixed 30-year mortgage rate remained unchanged at 3.03.
“Mortgage
rates have stayed just above 3% for several weeks,” noted MBA Chief Economist
Mike Fratantoni. “Refinance volume has been moderating, while purchase volume
continues to be lower than expected given the lack of homes on the market.
Economic data has sent mixed signals, with slower job growth but a further drop
in the unemployment rate in August.”
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